Economy slows work at Sany, but project will continue 4/11/2008

Sany America is ‘taking a pause in construction in Peachtree City to watch the worldwide economy.”

Peachtree City Mayor Harold Logsdon and Matt Forshee, President and CEO of the Fayette County Development Authority, both confirmed Tuesday morning that Sany is taking a 90-day break from construction on its new Peachtree City manufacturing plant. But both also emphasized that Sany is not pulling out of its plans to build a major plant in PTC.

“I met with Sany officials this morning and they assured me the project is still a go,” said Logsdon.

“They are still committed to building here. They are just taking a pause to see what happens with the economy worldwide.”

Logsdon said officials also assured him that Sany still plans to continue operations in its PTC headquarters -- currently located across from World Airways.

“In fact, they are in the hiring process as we speak,” said Logsdon.

According to officials, Sany is making a $30 million investment in locating its U.S. headquarters and its first U.S. assembly plant in Peachtree City.

Sany is a division of Sany Heavy Industry Co., Ltd., which is based in Changsha, Hunan Province, China and in 2006 exceeded $594 million in sales volume worldwide.

“They own the property they are building on in Peachtree City, and have already made a major investment here,” said Forshee. “They are not pulling out now, they are simply taking a 90-day breather to evaluate the worldwide economy. “They will continue to maintain their headquarters here, they just want to make sure when they begin production of their products that they have someone to purchase them.

“They want to take time to see what happens with the economy after the presidential election in the United States and around the world. “But they are not pulling out. They have the money, that isn’t a problem. They just don’t think it makes sense to put the money into a building right now that could just sit for a while as the economy recovers.” Forshee said 60 percent of the steel components for the new plant have already been designed and are ready for construction. Phase one of Sany’s plans include a 400,000 square foot assembly/testing/training/office site in the Peachtree City Industrial Park. Phase one will employee 200 people over the first five years of operation.

Future phases at the Fayette County site will include additional product assembly lines as well as a corporate office campus and R&D facility and will employee up to 400 additional people, for a total employment of 600. According to officials, Sany initially will assemble concrete pump trucks and stand alone trailer mounted concrete pumps, which are used in the construction of high-rise buildings and other concrete structures requiring poured in place concrete, such as dams. Future products may include asphalt pavers, road graders, excavators and other heavy construction equipment. Sany’s plans were announced Sept. 2007 at the state capitol in Atlanta.